Instructions

Grease and flour a 9-inch tube pan. Do not preheat the oven.

To prepare the cake, combine the shortening and sugar in a large bowl; beat with a mixer at medium speed until well blended. Add the eggs, 1 at a time, and beat until well blended. Add the extracts and beat well. Add the flour alternately with the milk, starting and ending with the flour. Beat well after each addition. Fold in half of the cherries.

Pour the batter into the prepared pan. Bake at 300 degrees for 11/2 hours, or until a wooden pick inserted in the center comes out almost clean. Cool the cake in the pan on a wire rack for 10 minutes and then invert onto a plate.

To prepare the icing, combine the cream cheese, margarine, sugar, and vanilla in a medium bowl; beat with a mixture at low speed until smooth. Spread the icing on top and the sides of the cake. Sprinkle the remaining maraschino cherries and nuts on top.